The digital payment landscape in India is evolving rapidly, with a strong focus on inclusivity and accessibility. The Reserve Bank of India (RBI), in a significant move, has recently increased the transaction limit for UPI 123Pay from Rs 5,000 to Rs 10,000. This move aims to further empower feature phone users across India by enhancing their digital payment experience.
But what exactly is UPI 123Pay? It’s a suite of innovative solutions designed specifically for individuals who use non-smartphone devices, commonly known as feature phones. With UPI 123Pay, these users can seamlessly access and utilize UPI services without the need for internet connectivity.
This new development comes as part of the RBI’s broader strategy to promote financial inclusion and digital literacy. All transactions performed through UPI 123Pay are completely free of charge, making them a cost-effective option for a wide range of users.
A Deeper Dive into UPI 123Pay
Understanding UPI PINs:
Before we delve into the specifics of UPI 123Pay, it’s crucial to understand UPI PINs. A UPI PIN is a unique 4-6 digit passcode that you generate during the initial registration process via a mobile app, IVR system, or another designated channel. This PIN serves as your primary authorization mechanism for all your bank transactions through UPI.
Convenience for Feature Phone Users:
UPI 123Pay offers a comprehensive range of payment methods, ensuring a user-friendly experience for those who rely on feature phones. These methods include:
*
Voice Payment via IVR:
Users can initiate transactions by simply calling a designated IVR (Interactive Voice Response) number.*
Proximity Sound-based Payments:
This innovative technology enables payments by using sound waves transmitted between two devices.*
Missed Call-based Payments:
Users can make payments by simply making a missed call to a pre-defined number.*
App-based Scan and Pay:
Feature phones equipped with specific apps can utilize a scan-and-pay functionality, mirroring the experience of smartphone users.Enhanced Language Support:
Recognizing the diverse linguistic landscape of India, UPI 123Pay now offers a variety of languages to choose from during the transaction process. These languages include:
* English
* Hindi
* Kannada
* Tamil
* Bengali
* Malayalam
* Telugu
This multilingual support makes UPI 123Pay truly accessible for a broader segment of the Indian population.
Managing Bank Accounts with UPI 123Pay:
It’s important to note that UPI 123Pay currently allows users to link only one bank account at a time. If you need to add a different account, you’ll need to de-register the existing account and then link the new one.
Step-by-Step Guide to Linking a Bank Account:
Linking your bank account with UPI 123Pay is a straightforward process:
1.
Dial the Service Number:
Begin by dialing the UPI 123Pay service number provided by your bank or UPI service provider.2.
Language Selection:
Choose your preferred language from the available options.3.
Account Registration:
Select the option to register or link your bank account.4.
Debit Card Information:
Enter the last six digits of your debit card and its expiration date when prompted.5.
UPI PIN Creation:
Create a secure UPI PIN for all future transactions and confirm it.6.
Account Linked:
Congratulations! Your bank account is now linked with UPI 123Pay, enabling you to make seamless UPI transactions.With this recent development, UPI 123Pay is poised to further bridge the digital divide and promote financial inclusion in India. As the country continues to embrace digital transformation, initiatives like this ensure that everyone, regardless of their device capabilities, can participate in the growing digital economy.
